The Independent Commission on Banking published its final report on Monday proposing that Britain’s banks need to “ring-fence” by disconnecting their retail operations from the riskier investment banking arms. Banks were given until 2019 to implement the radical reforms, and could cost between £4bn and £7bn according to the report. ICB’s chairman, John Vickers, said:…
Home insurance or business insurance is vital when you own a property. There are several ways you can be sure you have the right insurance that fits your needs. Unusual weather conditions may cause damage to your property or even make it unlivable for many months. Does your insurance cover the expense of living away…
Non-Mexicans buying property in Mexico will likely find that much of the process is similar to that of the U.S. or Canada. However, there are a few important differences, most notably the extra requirements made for non-citizens to buy in the country’s “Restricted Zone” by means of a Bank Trust (Fideicomiso.) There are also other…
Markets remained stable on Thursday as investors await President Obama’s speech on job proposals detailing plans of boosting employment before a joint session of Congress. President Obama is said to put forward a jobs package of an estimated $300bn amid US voter frustration over the country’s 9.1 percent unemployment. The plan will outline measures to…
Swedish car manufacturer Saab on Wednesday filed for bankruptcy protection from creditors amid mounting debt and production stoppages in a last minute attempt to save the brand. The filing at the Swedish court includes its subsidiaries Saab Powertrain and Saab Tools but excludes overseas subsidiaries and Saab Parts. The car maker signed a financing agreement…
It’s hard to find safe investments these days, especially with the economy always on edge. A classic safe-haven investment throughout history has been precious metals, or more specifically, gold. But there can be drawbacks to investing in gold and there are multiple ways to do so. The following article will cover all the different ways…
European and Asian stocks slumped on Labor Day after US growth fears hit the markets late on Friday following weak employment data that showed the US economy had added no jobs at all in August. Stocks in Europe on Monday traded lower on the news with the FTSE 100 down 1.7 percent to 5,201, the…
European banking shares on Friday dropped sharply in anticipation of US jobs data and a published report that the Federal Housing Finance agency is planning to file a lawsuit against “more than a dozen” banks over alleged misrepresentation in mortgage backed securities. Alleged targets of the planned lawsuit are said to include JP Morgan Chase,…
As increasing prices continue to aggravate Asia’s governments moving into September, manufacturing activity slowed in August within Japan, Taiwan and South Korea, according to data released on Thursday. Investors in the US worried ahead of Labor Day – America’s annual holiday to welcome in September – that it would have adverse affects across the water….
Russia’s Prime Minister Vladimir Putin late on Tuesday announced an agreement between US oil conglomerate ExxonMobil and Russia’s Rosneft to explore the country’s oil-rich Arctic continental shelf. The deal replaces a comparable but failed agreement with BP that differs in that Exxon offers Rosneft assets in Texas and in the Gulf of Mexico in exchange…
